Sarabjit Singh Marwah, Scotiabank ex-Vice Chairman becomes Canada's first NRI Sikh Senator
Los Angeles, Nov. 03, 2016
Kolkata born and Toronto-based NRI Sarabjit (Sabi) Singh Marwah, who recently retired as Vice Chairman and Chief operating Officer for Scotiabank and founding member of the Sikh Foundation of Canada, have been appointed to the Senate by Prime Minister Justin Trudeau.
Now there are 20 NRI (Non resident Indians) MPs in the Canadian House of Commons including four cabinet ministers (lower house).
In Canada, unlike the Members of Parliament in the House of Commons, the 105 senators are appointed by the Governor General on the advice of the prime minister. To fill the Senate vacancy: the newly created, five-member advisory board which is to recommend to the prime minister a short list of five names for each Senate vacancy.
House is the most important part of Canada’s Parliament, the institution also has a second chamber, known as the Senate. After the House of Commons passes a bill, it must also pass a vote in the Senate before it becomes law.
The Senate is the upper house of Parliament and the House of Commons is the lower house. Senators used to hold their seats for life but under the British North America Act, 1965, may not sit in the Senate after reaching the age of 75. The base annual salary of a senator was $142,400 in 2015……..NRIpress.club
Kolkata-born becomes Canada's first Sikh Senator
Toronto, Nov 2, 2016:
Former Scotiabank Vice Chairman Sarabjit Singh Marwah has become the first Sikh to be appointed to the Canadian Senate.
Toronto-based Marwah, who retired as from Scotiabank in 2014, is among six people from Ontario who have appointed to the Senate by Prime Minister Justin Trudeau.
In appointing him to the Senate, the Canadian Prime Minister has lauded Marwah for his efforts "to showcase the rich diversity of Sikh and South Asian art and culture". Marwah is one of the founders of the Sikh Foundation of Canada that promotes Sikh culture and art among the diaspora community.
Marwah, who was born in Kolkata in 1952, did his his schooling from St Xavier's School. He is an alumnus of Delhi's St Stephen's College and the Delhi School of Economics and holds an MBA degree from the University of California in Los Angeles.
Marwah joined Scotiabank in Toronto as a financial analyst in 1978. Rising through the ranks, he went on to become the Chief Financial Officer (COO) of the bank in 1998. In 2002, he was made the bank's senior executive vice president and chief financial officer.
In 2005, he was elevated as the vice chairman and chief administrative officer. In 2008, he was re-designated as vice chairman and chief operating officer of the bank - the positions he held till his retirement in 2014.
He has served on the boards of many famous Canadian institutions such as the Toronto Star, the Toronto International Film Festival, the C.D. Howe Institute, the Royal Ontario Museum, the United Way Campaign, and the Hospital for Sick Children.
Marwah joins two other turbaned Sikhs - Defence Minister Harjeet Sajjan and Science Minister Navdeep Bains - in the Canadian parliament. While Marwah will be the only Indian-origin member of the Senate (upper house), there are over 20 MPs of Indian origin the Canadian House of Commons (lower house)…..(Gurmukh Singh can be contacted at email@example.com)
April 15, 2014 16:21
Scotiabank Announces Retirement of Vice Chairman and Chief Operating Officer, Sabi Marwah
TORONTO, ON--(Marketwired - April 15, 2014)
Scotiabank today announced the retirement of Sabi Marwah, effective May 30, 2014. Sabi is currently Vice Chairman and Chief Operating Officer with a 35-year history at Scotiabank.
"Sabi has had an extraordinary impact in shaping the success and character of Scotiabank," said Brian Porter, Scotiabank President and Chief Executive Officer. "He is a well-regarded business leader with keen insight and an unwavering commitment to excellence. He has also been a role model in the community, giving generously of his time."
There will be a realignment of key executive reporting relationships with this retirement.
Sean McGuckin, Executive Vice President & Chief Financial Officer, will report directly to Mr. Porter and assume expanded responsibility.
Scotiabank is a leading financial services provider in over 55 countries and Canada's most international bank. Through our team of more than 83,000 employees with assets of $783 billion (as at January 31, 2014)